On Wednesday, Shares of Las Vegas Sands Corp. (NYSE:LVS), gained 2.59% to $48.71.
Sands China Ltd. (1928.HK), a majority owned partner of global resort developer Las Vegas Sands Corp. declared the appointment of Wilfred Wong, GBS, JP, as the companys new president and chief operating officer. Mr. Wongs appointment is effective November 1, 2015 and he will replace Rob Goldstein (current president and COO of LVS), who has been serving as Sands Chinas interim president since earlier this year.
Mr. Wong is joining Sands China after having served in a variety of senior business roles, counting most recently as chairman and chief executive officer of the Hong Kong listed Hsin Chong Construction Group Ltd. Mr. Wong also held top administration positions in a number of other Hong Kong listed companies in the property development and construction business sectors, counting K. Wah International Holdings Limited, Henderson China Holdings Limited and the Shui On Group.
Additionally, Mr. Wong has had a distinguished career in the public sector, where he served in various different levels of the Hong Kong government. Mr. Wong also served in many positions designated by the Central Peoples Government: as a member of the Hong Kong Basic Law Consultative Committee; member of the Preliminary Working Committee and subsequently the Preparatory Committee responsible for establishing the Hong Kong Special Administrative Region. Mr Wong was also elected a member of the National Peoples Congress of the Peoples Republic of China for 15 years from 1997 to 2012.
Las Vegas Sands Corp. develops, owns, and operates integrated resorts in Asia and the United States. The company owns and operates The Venetian Macao Resort Hotel, Sands Cotai Central, the Four Seasons Hotel Macao, the Plaza Casino, and the Sands Macao in Macau, the People’s Republic of China.
Shares of Navient Corporation (NASDAQ:NAVI), inclined 2.26% to $12.65, during its last trading session.
Navient Corporation declared the launch of a new online investor forum designed to facilitate communication with bondholders of securities backed by federally guaranteed student loans. The forum is offered by Navient through DealVector.
Through the new online investor forum, ABS investors can register to receive notifications regarding their bonds and can also communicate with Navient and directly with other bondholders through identity-protected messages.
Navient Corporation provides financial products and services in the United States. The company operates in four segments: FFELP Loans, Private Education Loans, Business Services, and Other.
Shares of Comerica Incorporated (NYSE:CMA), inclined 1.31% to $43.22, during its last trading session.
BMO Capital initiated coverage of Comerica Incorporated, stock with an underperform rating and price target of $44 on September 9.
With the recent pull-back in bank stocks, regional banks are now looking more attractive relative to fundamentals for the first time in a while, in our view, BMO said in a note.
Comerica has been trading at a premium to peers as investors viewed earnings as very depressed, but over the longer term its more in line with peers, according to BMO. Comerica is one of the cheaper regional banks on a price-to-tangible book at 110% as compared to peer group median of 139%.
BMO estimates earnings of $2.83 per share for 2015 and $3.25 per share for 2016.
Comerica Incorporated, through its auxiliaries, provides various financial products and services. It operates through three segments: Business Bank, Retail Bank, and Wealth Administration.
Finally, Shares of First Majestic Silver Corp. (NYSE:AG), ended its last trade with 5.03% gain, and closed at $3.13.
First Majestic Silver Corp, and SilverCrest Mines Inc. (SVL.TO)(NYSE MKT:SVLC) are happy to declare that Glass, Lewis & Co. (Glass Lewis) and Institutional Shareholder Services Inc. (ISS), two leading independent proxy advisory firms which provide voting recommendations to institutional investors, have each recommended that shareholders of First Majestic and SilverCrest vote FOR the respective shareholders resolutions projected in connection with the plan of arrangement following which First Majestic will acquire all of the common shares of SilverCrest.
In First Majestics report, Glass Lewis summarized their FOR recommendation for the Arrangement as follows*: In sum, we believe the projected acquisition of SilverCrest is compriseent with First Majestics growth strategy. In SilverCrest, the Company appears to have identified an attractive acquisition target which will add another producing mine to First Majestics asset portfolio, increasing production, reserves and the Companys cash and working capital position. Moreover, First Majestic anticipates to realize synergies and cost savings following completion of the arrangement. Therefore, the combination is predictable to be accretive to First Majestics NAV, reserves, resources and production on a per-share basis. As a result, the acquisition is likely, in our view, to lead to improved financial performance and ultimately superior shareholder value. Overall, we believe that the consideration represents a reasonable and fair price for First Majestic to pay given the predictable planned and financial benefits and the opportunity to enhance shareholder value. Thus, we believe the transaction represents an appropriate use of the Companys equity capital. Based on these factors, together with the support of the board, we believe the projected share issuance for the arrangement is in the best interests of shareholders.
First Majestic Silver Corp. engages in the acquisition, exploration, development, and production of mineral properties with a focus on silver projects in Mexico. The company owns and operates five producing mines, counting the La Encantada silver mine in Coahuila State, the La Parrilla silver mine in Durango State, the Del Toro silver mine in Zacatecas State, the San Martin silver mine in Jalisco State, and the La Guitarra silver mine in Mexico State.
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